AI enables companies to analyse large amounts of data, discover patterns, and make predictions that surpass human capabilities. Generative AI generates new data based on existing data. With Generative AI, you can create sound, text, images, videos, and virtual worlds, think of the possibilities of ChatGPT. The power of (Generative) AI will only increase, causing it to change business models and entire industries.
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The 28th CEO Survey by PwC provides a clear picture of the growing impact of generative AI (GenAI) on the business world. The survey, based on responses of 4,701 CEOs globally, reveals that the majority of CEOs recognise the potential of GenAI to transform business processes and boost profitability. More than 50% of CEOs report that GenAI has already led to improved efficiency, while 49% of CEOs expect GenAI to enhance their company's profitability in the next 12 months. These positive prospects highlight the expanding role of AI in the modern business landscape and demonstrate how CEOs view GenAI as an essential tool for navigating an increasingly complex and competitive market.
In today's dynamic world, Chief Financial Officers (CFOs) need to transform their planning and forecasting. The solution to automating the conventional time-consuming planning and forecasting activities and navigating the ever-changing conditions lies in the advanced capabilities of Forecast Plus Insights.
Learn more about the capabilities of Forecast Plus Insights
In today's rapidly changing environment, effective collaboration is more important than ever. The problem of wasting time on communication leads to inefficiency. We need to better spend our time on tasks with more value. One time-consuming activity is organising meetings, especially for management assistants. Their precious time can be better utilised. That's why the Digital Assistant Suite (DAS) has been developed.
Discover the possibilities of the Digital Assistant Suite
The impact of Generative AI on society and business will be substantial in the coming years. And the same applies to your company. The expanding possibilities will also improve its range and ease of use. Generative AI ensures that the development and application of new AI options is no longer limited to data scientists – companies like yours will be able to create their own solutions too.
The speed and productivity that Generative AI provides for knowledge work will save you both time and money. Your employees will be able to focus on activities which require more human skills, such as maintaining relationships with clients. Thanks to the expected explosion in the use of AI, your organisation will be able to rapidly transform. Nonetheless, it is important to stay aware of risks such as security, privacy, bias, ethics and reputational damage.
Building up and preserving the trust of your stakeholders – including the Executive Board, clients and regulators – requires your organisation to use AI in a responsible way. Generative AI is no exception. You must constantly be able to prove that you are monitoring data and performance, and that your company responds to issues resulting from interaction between man and machine, such as the loss of jobs or unintended algorithm results.
Generative AI can automate and improve aspects of nearly all your operational activities, varying from customer service to software development and data analysis. Examples include:
‘Nearly all business leaders say their company will prioritise at least one AI initiative in the short term.’
As a company you will be looking to convert the potential of Generative AI into concrete products and services as quickly as possible to underpin future growth. Leveraging on our dedicated approach, far-reaching sector experience and technical know-how, PwC can help identify which aspects can be improved by Generative AI and train the right models for long-term value.
Our human-led, tech-powered approach forms the basis for utilising the opportunities provided by Generative AI. Together with you, our tech alliances and academic institutions, we create solutions that help reform parts of your organisation. We provide support in identifying ‘use cases’ and in designing and building applications that better facilitate your clients and employees. While doing so, we maintain a focus on governance, privacy, security and ethics, and ensure everything is integrated within your organisation in a responsible way.
Mona de Boer
Partner, Data & Artificial Intelligence, PwC Netherlands
Tel: +31 (0)61 088 18 59